The number of Portland area closed home sales in September topped the number of September… more

While preparing our Oct. 26 Focus on Residential Real Estate, I asked the Regional Multiple Listing Service to compare the number of closed home sales in September in the Portland region with those of previous Septembers, going back to the housing bubble days.

It turns out that the number of closed sales in September 2012 is higher than the figure for September 2007 — 1,894 versus 1,866.

The number of Portland area closed home sales in September topped the number of September… more

What gives? We’re just in the initial stages of a housing market recovery, so why are the number of monthly transactions about the same as in 2007?

As the main hub for homes in Oregon, the Portland market was partly shielded from the housing crash when it came to transaction activity, said George Huertas, a broker at Prudential Northwest Properties and an RMLS director. Yes, activity declined some from peak periods, but never fell as drastically as it did in many other markets, he said. Some people still had to move, or still had to sell for other reasons.